Benefits of Universal Sompo Car Insurance
Here are some of the benefits that you can avail yourself from Universal Sompo’s car insurance policy:
- There are different types of coverage options offered by the company. You can choose any policy as per your needs.
- The coverage available under Universal Sompo car insurance plans is inclusive while the premiums are affordable.
- There are add-on covers as well as optional extensions that allow you to enhance the scope of coverage of your policy.
- You can claim attractive premium discounts to reduce the premiums and save money on car insurance plans.
Features of Universal Sompo car insurance
- Mandatory coverage
The mandatory third party liability cover, as required under the Motor Vehicles Act, 1988, is provided by Universal Sompo car insurance plans. You can, thus, protect yourself against third party liabilities by availing the mandatory coverage.
- Incurred Claims Ratio (ICR)
The ICR measures the ratio of the claims paid against the premium earned by the company. For the financial year 2019-20, Universal Sompo’s Incurred Claims ratio stood at 73.14% (IRDAI Annual Report 2019-20).
- Personal accident cover
Universal Sompo offers the mandatory personal accident cover with its car insurance policy. You can opt for this cover if you don’t have personal accident insurance and get protected against accidental deaths and disablements.
- Network garages
The company is tied up with more than 3500 garages across India so that you can avail of cashless repairs easily.
- No claim bonus
You earn a no claim bonus for every claim-free year in your car insurance policy. This bonus goes up to 50% and allows you a discount on the renewal premium.
Universal Sompo car insurance plans have various types of offers. These include the following
- You can opt for four different optional extensions under the policy. These extensions include coverage for loss of accessories, personal accident to the occupants of the car, legal liability to paid workers, driver or cleaner, increased legal liability for third party property damage.
- You can get up to a 50% no claim bonus if you don’t make claims for five successive years.
- Various discounts are allowed under the policy. These are as follows
- Discount for choosing a voluntary excess
- Discount for modified vehicles for disabled, blind or physically challenged
- Discount for installing anti-theft devices
Other facts to know about Universal Sompo car insurance plans
- Premium concession is allowed for the disabled, physically challenged and blind policyholders
- The depreciation rate for the various parts of the car is clearly defined
- The no-claim bonus starts at 20% for the first claim-free policy year
- To connect with the company, you can call the toll-free number 1800 22 4030 or 1800 200 4030. Alternatively, you can also send an email to contactus@universalsompo.com and the company would get in touch with you.